James H. Knowles and Gretchen R. Knowles v. Commissioner of Internal Revenue
This text of 355 F.2d 931 (James H. Knowles and Gretchen R. Knowles v. Commissioner of Internal Revenue) is published on Counsel Stack Legal Research, covering Court of Appeals for the Third Circuit primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Opinion
There is substantial evidence on the whole case which supports the Tax Court findings of a value of at least $285 a share on September 23, 1954 for the CHD stock involved and that said stock was transferred to petitioner, James H. Knowles, as compensation for services. We are satisfied that the Tax Court did not err with respect to the Commissioner’s burden of proof and in holding that the deficiency asserted against the petitioners for the year 1954 is not barred by the statute of limitations on assessment.
The decision of the Tax Court will be affirmed.
Free access — add to your briefcase to read the full text and ask questions with AI
Related
Cite This Page — Counsel Stack
355 F.2d 931, 17 A.F.T.R.2d (RIA) 358, Counsel Stack Legal Research, https://law.counselstack.com/opinion/james-h-knowles-and-gretchen-r-knowles-v-commissioner-of-internal-ca3-1966.